Union Cabinet approves royalty rates for mining of 12 critical and strategic minerals including Beryllium, Cadmium, Cobalt, Tungsten, Vanadium etc. | Current Affairs | Vision IAS

Upgrade to Premium Today

Start Now
MENU
Home
Quick Links

High-quality MCQs and Mains Answer Writing to sharpen skills and reinforce learning every day.

Watch explainer and thematic concept-building videos under initiatives like Deep Dive, Master Classes, etc., on important UPSC topics.

ESC
  • This would enable the Central Government to auction blocks for these 12 minerals for first time in India.
  • For specifying royalty, Cabinet approved the amendment of Second Schedule (containing royalty rates) to the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957.
    • Royalty means payment made to owner of certain types of rights (government as mineral rights holder) by those who are permitted to exercise such rights. 
  • MMDR Amendment Act 2023 had listed 24 critical and strategic minerals in Part D of First Schedule of MMDR Act.
    • Critical and strategic minerals are those minerals that are essential for economic development and national security but their supply is limited and subject to disruption.

 

  • Significances of Critical Minerals
    • Foundation of modern technology such as smartphones, electric vehicles, semiconductors etc.
    • Role in manufacturing of clean energy technologies e.g. solar panels, advanced batteries etc.
    • Strategic and geopolitical significance with usage in frontier technologies, defence equipment and concentrated supply chains.

 

  • Concerns associated with Critical Minerals for India
    • Despite significant reserves (e.g. rare earth elements (REEs), titanium, thorium), India lacks commercial production capability due to high exploration and extraction costs.
    • High import dependency on few countries like DR Congo, Australia, and China.

Initiatives by India for critical and strategic minerals 

  • Identification of 30 critical minerals crucial for self-reliance.
  • India joined the Mineral Security Partnership (MSP) to bolster critical minerals supply chains.
  • Partnership with Australia for lithium and cobalt and with Argentina for lithium. 
  • Khanij Bidesh India Limited (KABIL) formed to identify, acquire, process and make commercial use of strategic minerals in overseas locations for supply in India.
Watch Video News Today

Explore Related Content

Discover more articles, videos, and terms related to this topic

RELATED VIDEOS

3
News Today (Mar 02, 2024)

News Today (Mar 02, 2024)

YouTube HD
Circularity in Textile Structure

Circularity in Textile Structure

YouTube HD
Growth of Tier 2 and Tier 3 Cities in India

Growth of Tier 2 and Tier 3 Cities in India

YouTube HD
Title is required. Maximum 500 characters.

Search Notes

Filter Notes

Loading your notes...
Searching your notes...
Loading more notes...
You've reached the end of your notes

No notes yet

Create your first note to get started.

No notes found

Try adjusting your search criteria or clear the search.

Saving...
Saved

Please select a subject.

Referenced Articles

linked

No references added yet

Digital Current Affairs 3.0

The breakthrough in your UPSC journey.

Experience the next generation of UPSC preparation with AI-powered learning, personalized strategy, and trusted VisionIAS content.

Get Started Now
224K+
Active Students
4.39 Rating (8,682 reviews)
AI-Powered
Learning & Analytics

Digital Current Affairs 3.0

Personalized strategy for UPSC excellence. Trusted content with cutting-edge AI features.

Subscribe Now
224K+
Students
4.39
AI
Powered

Place in News: Cuba

Union Budget 2026-27 proposed an outlay of ₹20,000 crore for Carbon Capture Utilization and Storage (CCUS) technologies

Budget 2026–27 Proposes Three New Chemical Parks

Electronics Components Manufacturing Scheme (ECMS) gets 75% Budget Boost to 40,000 Crore

Place in News: Cuba

Union Budget 2026-27 proposed an outlay of ₹20,000 crore for Carbon Capture Utilization and Storage (CCUS) technologies

Budget 2026–27 Proposes Three New Chemical Parks

Electronics Components Manufacturing Scheme (ECMS) gets 75% Budget Boost to 40,000 Crore

16th Finance Commission (FC) gives recommendations for strengthening local bodies

Union Budget pushes Elderly Care in India

Ministry of Science and Technology launched the first Open Call under Research, Development and Innovation (RDI) Fund

Transforming Primary Agricultural Credit Societies (PACS) into Multipurpose Rural Growth Engines

16th Finance Commission (FC) gives recommendations for strengthening local bodies

Union Budget pushes Elderly Care in India

Ministry of Science and Technology launched the first Open Call under Research, Development and Innovation (RDI) Fund

Transforming Primary Agricultural Credit Societies (PACS) into Multipurpose Rural Growth Engines

Place in News: Cuba

16th Finance Commission (FC) gives recommendations for strengthening local bodies

Union Budget 2026-27 proposed an outlay of ₹20,000 crore for Carbon Capture Utilization and Storage (CCUS) technologies

Union Budget pushes Elderly Care in India

Budget 2026–27 Proposes Three New Chemical Parks

Ministry of Science and Technology launched the first Open Call under Research, Development and Innovation (RDI) Fund

Electronics Components Manufacturing Scheme (ECMS) gets 75% Budget Boost to 40,000 Crore

Transforming Primary Agricultural Credit Societies (PACS) into Multipurpose Rural Growth Engines

Place in News: Cuba

16th Finance Commission (FC) gives recommendations for strengthening local bodies

Union Budget 2026-27 proposed an outlay of ₹20,000 crore for Carbon Capture Utilization and Storage (CCUS) technologies

Union Budget pushes Elderly Care in India

Budget 2026–27 Proposes Three New Chemical Parks

Ministry of Science and Technology launched the first Open Call under Research, Development and Innovation (RDI) Fund

Electronics Components Manufacturing Scheme (ECMS) gets 75% Budget Boost to 40,000 Crore

Transforming Primary Agricultural Credit Societies (PACS) into Multipurpose Rural Growth Engines